Bitcoin Closes In On $65K As ETFs See Over $400M In Net Inflows
Portfolio Pulse from Ivan Crnogatić
Bitcoin and Ethereum ETFs saw a significant inflow of $407 million, driven by political shifts favoring Republicans, perceived as crypto-friendly. The iShares Bitcoin Trust and Fidelity Wise Origin Bitcoin Fund were major beneficiaries. Bitcoin's price surged to $64,875.
October 14, 2024 | 1:50 pm
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POSITIVE IMPACT
The Fidelity Wise Origin Bitcoin Fund received $138 million in net inflows, driven by US political developments favoring crypto.
The Fidelity Wise Origin Bitcoin Fund benefited from significant inflows due to political shifts, suggesting a positive short-term impact on its price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
The iShares Bitcoin Trust saw significant inflows of $158 million, benefiting from political shifts in the US perceived as crypto-friendly.
The iShares Bitcoin Trust experienced substantial inflows due to political factors favoring crypto, indicating a positive short-term impact on its price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90